We regret to inform our community that as of today, standard bank wire payments are no longer available on SWAPD. Our operator for this service, ZEN.com, has made the decision to permanently block our ability to send/receive SWIFT payments, effectively shutting down our ability to accept traditional wire transfers.
Here are the facts:
We received official notice today that ZEN.com has blocked our access to SWIFT.
The reason given: “VEYYO SP. Z O.O. has been deemed outside of risk appetite.”
This decision comes just two weeks after we fully passed their audit with no issues.
We have been using ZEN for over two years without a single complaint, chargeback, or compliance violation.
In other words, we are being terminated despite having a perfect track record. No wrongdoing, no explanation — just a vague “risk appetite” excuse.
What This Means for SWAPD Users
Anyone looking to use bank wires for payments on SWAPD will now have to switch to Trustap when creating new transactions.
Trustap supports bank wires and credit card payments.
If Trustap is not available in your country, your only option is crypto.
We sincerely apologize for the inconvenience. This situation highlights a larger problem: the broken and arbitrary nature of the fiat system. Even if you do everything right, follow all the rules, and have a spotless history — you can still be cut off without any path to appeal.
Since they are no longer a partner, we feel it’s important to shed light on who ZEN really is:
ZEN.com is not a bank or licensed payment processor. They are an intermediary — essentially a middleman, similar to SWAPD — that relies on backend services from companies like Paysafe.
Fees are extremely high. Sending even $20 via wire could result in $20–$30 in fees.
Their platform design appears intentionally deceptive. For example, the wire payment page defaults to the more expensive “OUR” option, even if you previously selected the cheaper “SHA” fee. If you perform any other action, the page silently resets your choice back to “OUR.” It’s a subtle change most people don’t notice, and we believe this was done deliberately to increase their margins.
In short, if you want to overpay and get terminated for no reason, ZEN is a perfect choice. We tolerated the fees and poor UX only because they initially allowed our business model. But their sudden and unjustified decision to block us — without any violations — speaks volumes.
Moving Forward
Trustap is now the default for all fiat payments on SWAPD. If you’re still using bank transfers, we encourage you to try Trustap on your next transaction.
Thank you for your continued support and understanding.
If you currently have an active ticket funded via standard bank wire, there’s no need to worry — your funds are safe. However, due to ZEN’s complete block on our SWIFT access, payouts may be delayed. We can still process payments via ACH or SEPA, so each case will be reviewed individually to determine the best available option.
We will also gladly review any companies that process SWIFT wires that could potentially take us on. However, this time we want an official statement from any company that will work with us that our business model is not a problem to them. If anyone here has any suggestions or connections, we will gladly talk with you.
Honestly, I just had my first experience with Trustap and it was remarkably easy and straightforward. I even paid less in wire fees sending the funds domestically. The only problem with Trustap though is that it is now virtually impossible to do a no prepayment if paying via wire. With regular bank wires being permanently suspended, are you planning on making alterations to make no prepayment tickets available with trustap?
But this doesn’t seem to be a trustap backend problem rather a swapd backend problem. Why can’t the ticket be started just regularly in noprepayment status and then switched into payment status to submit the payment to trustap upon the ticket’s completion?
There is a time limit on when a payment needs to be booked once a Trustap ticket starts. We would have to rewrite things on the backend, and for now, that’s not possible.
Update: We’re trying to set another account up with a different provider, to restore services as soon as possible. We’re currently under review, we will keep you posted.
Thanks for the update and work on this guys, hope it gets sorted. Bankwire is crucial. TrustAp is cool, but they only payout in local currency if I’m not mistaken. And it’s KYC as well correct? I remember having to be CC:d in email with the Swapd buyer. Not a huge fan of random buyers who cant do crypto knowing my personal details. Just some thoughts.
some not give any reasons.
say i am using paypal since 2007 Done lots and lots of transactions over there without any problems just 2 to 5 chargeback from a non professional buyer in the period of 15 Years of using them.
and suddenly they banned my paypal account in 2022 saying its risky to business lol.
i asked them i can open new paypal account they said yes. so opened new but that also banned on receiving first payment and hold for 180 days. since that time not using paypal.
Because of America and their endless war on terrorism, the whole AML/KYC mess started. The rest of the Western world followed blindly. Now the laws around moving money are so strict that banks would rather dump you than risk getting fined, even if you’re doing absolutely nothing wrong. As silly as it may sound, it’s the overly cautious American system that’s at the root of the problem.
In our case, it’s obvious. SWAPD is seen as a gray area, even though multiple law firms confirmed we’re operating within legal boundaries. The issue isn’t the law, it’s perception. People come to our site to buy PR, gain exposure, or get shortcuts in the social media world. Some people just don’t like that and never will.
With ZEN, I’m sure they’d gladly work with us, just like many other banks that dropped us in the past. The reality is, banks have no problem laundering money for drug cartels as long as they don’t get caught. It’s business. All they care about is profit. But now governments are cracking down hard, and banks play it safe to protect themselves, even if it means pushing away legit businesses.
We are trying, but approval wait times are generally around 10 days. We’re running out of options as where to go, as even ZEN was considered a safe place for higher-risk industries. I guess that’s not true anymore.
Yeah, scaling online today feels almost impossible unless you’re influential, have the right connections, and a solid law firm backing you. Like GPT once said, “governments don’t want you doing international business, they want you to be Joe Schmoe running a local bakery.”
Have you considered adding USDT/USDC (SOL) network yet? I remember asking about this earlier, and it was supposedly under consideration for early 2025 if I am not wrong, but I haven’t seen any updates.
